They could conceivably demand thousands from us, and we wouldn't know how to dispute it.

The only solution I can conceive of is finding a private investor to finance the whole deal.

We have people from every conceivable background, in every niche of the market imaginable (and some you've never thought of). 

There will always be methods to create money if you're creative in every conceivable market.Go ask the 30 year veterans of this business.

After all, it's conceivable to do a bunch of flips for the sake of notching a dozen of them, but is that the proper focus?

There are people in every conceivable niche of real estate that are members of BP. 

You could conceivably purchase your next property as a primary residence (and then, actually live there), but obviously this would limit your cash flow on that property since you'd be occupying some or all of whatever you purchased.

With Rently or Showmojo, you could conceivably do it.

An attorney will look at every conceivable way to get out of the contract and if you did anything wrong will go after you.

It is conceivably possible to do a 1031 exchange  several time to where a lot of your equity in the property is owed to taxes... so just would encourage you to make sure you totally understand the concept and execution.I personally like your house hacking idea better for a beginner... way less down payment, you live in it for a year and then move out and rent it.